ELFA launches innovative AI tool ELFie for member engagement
The Equipment Leasing and Finance Association (ELFA) has recently launched an innovative AI tool named ELFie, which is designed to assist its members by providing real-time guidance on industry-related questions. This initiative is part of a growing trend where associations leverage customised large language models (LLM) and artificial intelligence (AI) to enhance member engagement and value.
Unveiled to the public last week, ELFie, which stands for “ELFA AI-powered knowledge assistant,” is positioned to be an invaluable resource for industry professionals seeking timely information. The tool draws from the extensive knowledge materials developed by the ELFA and the Equipment Leasing & Finance Foundation. Under its freemium model, public users can query ELFie up to three times a day, while deeper inquiries are reserved exclusively for members.
Julie Benson, Vice President of Membership Marketing at ELFA, shared insights into the tool's development, which took a year to materialise following a comprehensive technology audit conducted by the association. The audits aimed to assess current technology offerings and identify avenues to bolster member value and engagement. “Last year we did a tech audit, where we were encouraged to evaluate our technology offerings and find ways to enhance member value and member engagement,” Benson explained.
The primary goal of creating ELFie was to expedite members' access to relevant industry information, which became evident as the demand for data-driven decision-making in the industry increased. “As the industry becomes more data-driven, AI tools like ELFie are helping to play a crucial role in helping industry professionals process large volumes of information to identify trends and make strategic decisions,” Benson stated in her conversation with Associations Now.
ELFie has been trained exclusively on materials from ELFA and the Foundation, ensuring that it does not employ member data or store any personal information. Prior to its official launch, ELFie was softly introduced during the association's conference last October, where initial user engagement data was collected. This feedback mechanism allows users to rate the responses they receive with a thumbs-up or thumbs-down, providing the ELFA with valuable information regarding the functionality of the tool. “After every question and every response, users have the ability to give a thumbs-up or thumbs-down to responses, and to provide additional context about why they’re giving a thumbs-up or thumbs-down,” Benson elaborated. The analytics will guide ELFA in identifying pressing questions and concerns among its members, thus informing the association's future offerings.
For other associations contemplating the adoption of similar AI tools, Benson advises a methodical approach. She emphasizes the need for comprehensive exploration of community needs and the importance of collaboration among leadership. “You first need to define a clear use case for incorporating an AI tool into your organization, and it’s really important to align it with your organization’s mission,” she noted. In addition, Benson recommends securing input from various departments and allowing member testing to fine-tune the user experience prior to a broader rollout.
The introduction of ELFie by ELFA signifies an adaptive step towards maximising technology's potential within the association sector, aligning with the overarching aim of improving service delivery to members while fostering increased engagement in an ever-evolving industry landscape.